DALLAS, May 16 /PRNewswire-FirstCall/ -- Trinity Industries, Inc.
(NYSE: TRN) announced today that its new wholly-owned subsidiary, Trinity
Rail Leasing VI LLC ("TRL VI"), issued $572.2 million of promissory notes
(the "Notes") secured by a portfolio of railcars, operating leases thereon,
and certain cash reserves. The Notes are non-recourse to Trinity
Industries, Inc. and the proceeds are being used to repay a portion of
Trinity's warehouse facility and to finance unencumbered railcars on
Trinity's balance sheet. The interest rate on the Notes was fixed through
interest rate hedges.
"We are pleased to complete this financing, especially in light of the
current credit markets," said William A. McWhirter, Trinity's Senior Vice
President and CFO. "TRL VI provides us with the capital to continue the
growth of our railcar lease fleet. Our proven ability to finance railcar
leases in the capital markets allows us to continue to serve our customers'
leasing needs."
Trinity Industries, Inc., headquartered in Dallas, Texas, is a
multi-industry company that owns a variety of market-leading businesses
which provide products and services to the industrial, energy,
transportation, and construction sectors. Trinity reports its financial
results in five principal business segments: the Rail Group, the Railcar
Leasing and Management Services Group, the Inland Barge Group, the
Construction Products Group, and the Energy Equipment Group. For more
information, visit: http://www.trin.net.
SOURCE Trinity Industries, Inc.
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Related links:
http://www.trin.net
CONTACT:
Investors, James Perry, Vice President,
Finance and Treasurer of Trinity Industries, Inc.,
+1-214-589-8412
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